Coronavirus warnings, elevated valuations and an inverted yield curve have not deterred investors. What is behind the rally? Lior Cohen, Ph.D. Candidate in Economics at the University of Barcelona, and Yohay Elam, dive into over five reasons for the rally and why it can go even further.
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FXStreet Team
FXStreet
EUR/USD remains on the back foot on Thursday, trading close to the 1.1800 support ahead of the opening bell in Asia. The pair’s pullback comes amid further gains in the Greenback, while investors keep assessing the ECB’s decision to leave its policy rates unchanged
The GBP/USD pair adds to the previous day's dovish Bank of England-inspired heavy losses and drifts lower for the third straight day on Friday. The downward trajectory is sponsored by sustained US Dollar buying and drags spot prices to a two-week low during the Asian session, with bears now awaiting a break below the 1.3500 psychological mark before placing fresh bets.
Gold bounces off $4,650 demand area yet again amid broad risk aversion. The US Dollar retreats from ten-day highs as buyers take a breather after the recent uptrend. Technically, Gold’s bullish trend remains intact, with dip-buying a key trading strategy.
Bitcoin has declined below $65,000 on Thursday, down 11% over the past 24 hours. The move marks its largest decline since the October 10 leverage flush. Since then, the top crypto has erased more than 50% of its value since the October 10 leverage flush.
Tech just got hit with a different kind of selloff. Not the usual rates tantrum, not a recession whisper, not even an earnings miss in the classic sense. This was the market staring into an AI mirror and recoiling at its reflection.
Bitcoin has declined below $65,000 on Thursday, down 11% over the past 24 hours. The move marks its largest decline since the October 10 leverage flush. Since then, the top crypto has erased more than 50% of its value since the October 10 leverage flush.
